How Lola.com, Business Travel App, Has Bagged $37M in Series C Round of Funding With These 3 Dominant Strategies

business-travel-app-development

Planning to create an app for travel business startup or already having a business that you want to grow? Check out three dominant strategies from Lola.com, which you can consider during business travel app development.

With the advent of technology, travel and tourism industry has been experiencing a boom. However, this travel and tourism sector has become one of the world’s largest sectors along with a global economic contribution. Before moving ahead, let’s quickly look at a few important stats of the travel and tourism industry.

  • Globally, the travel and tourism industry has experienced steady growth almost every year. The growth increased from 528 million in 2005 to 1.19 billion in 2015, and these figures are forecasted to exceed 1.8 billion by 2030, according to Statista.com.
  • In the year 2016, the economic contribution was of over 7.6 trillion U.S. dollars, according to the report from Statista.

If we’re checking out the global business travel market, according to the Allied Market Research –

  • The global business travel market was worth $1,304 billion in 2017.
    It is estimated to reach $1,657 billion by 2023, registering a CAGR of 4.1% during 2017-2023.

For the travel industry, corporate customers continue to be a huge marketplace. There is a business travel-focused startup named Lola.com that has contributed in the trillion-dollar industry. According to the recent report from CrunchBase, “Lola.com has secured $37 million in Series C round of funding, led by Accel and General Catalyst.”

lola.com-app

Lola.com Business Travel App

The Greater Boston Area-based Lola.com was launched back in 2015. It makes corporate journeys easy for corporate users. And, it also allows users to effectively manage their journeys without hassle. Co-founded by Paul English and Bill O’Donnell, this business travel-focused startup, Lola.com, has secured the total funding amount of $81.7M over 3 rounds as of now.

lola.com-business-travel-app

Image Credits: lumiluxeagency

Herein we’ll outline a few dominant strategies by Lola.com, a business travel app, which you as a travel tech startup can consider during business travel app development.

What Are Those Dominant Strategies by Lola.com That Can Be Considered Before Creating Business Travel App?

1. A Unique Business Approach

The business travel app is based on a unique business approach. It provides an online platform for corporate users only to book and manage trips without a hitch. There are a number of travel booking options, but the company has chosen a unique business approach. The corporate travel app, Lola.com, has chosen only the business travel and decided to go with the same in order to grow its business. In addition, the company provides solutions for corporate users only.

app-like-lola.com

Image Credits: lola.com
Source: Google Play

This business travel app, Lola.com, has focused only on business-focused customers. The company has provided solutions to the specific needs of corporate users. Being a travel tech startup, if you already have an idea of developing a business travel app, all you need to focus on specific customers’ requirements.

2. Analyze The Pain Points of Busy Working People

The next dominant strategy is to analyze the pain points of your customers. For instance, Lola.com, business-focused travel booking app has focused on solving problems of its customers. The business travel booking app provides a pain-free agile platform to make bookings for corporate users. This travel booking app has cut the need for travel agent between corporate users and to know the modifications in the process of booking.

app-like-lola.com

For busy working people, who usually do business trips for the sake of work, the business travel app like Lola.com allows its corporate users to know the modifications in the process of booking, for instance, flight delays.

One of the most effective strategies by Lola.com is to provide solutions to give an alternative of traditional travel platform, which was painful and time-consuming for busy working people. The old & traditional travel platform possesses technical issues around frequent flyer programs. However, the business travel app like Lola.com has analyzed such issues and given solutions to corporate users.

3. Identify Your Target Market

The next dominant strategy is the importance of identifying the right targeted market when starting the business. Such a strategy helps your travel business to grow. Well, identifying the targeted market in a correct manner is one of the essential things, which you can do for business. Like Lola.com, the company has only worked on a specific customer base. The main focus of Lola.com is corporate travelers, who do travel frequently.

business-travel-app-development

Image Credits: lola.com
Source: Google Play

As a travel tech startup, you need to create a strategy, which must be unique as well as can add value to your business. Here’re a few important features, which you can consider while developing business travel app like Lola.com:

  • Allowing users to keep track of the trips no matter who books the tickets.
  • Furthermore, it is also important to embrace true human customer services in its chat-bots, where users can ask query related to the flight timings, check-ins, changing a flight. It makes easy to shop and book flights.

Thus, if you want to create an app in terms of providing simple solutions to corporate travel management, then these dominant strategies by Lola.com can do wonders for your travel tech startup.

The Bottom Line

You’ve just checked out a few strategies, which are the base of Lola.com business travel app. You can also adopt these strategies while developing business travel app like Lola.com. Well, while reading it, if you have got an app idea based on business travel app, which you want to embark with in order to develop Android app, then you can cross-verify it with us.

As we’re a leading mobile apps development company and we’ve already developed over 3500 mobile applications in diverse mobile app categories with unique features and functionalities like GPS real-time tracking, cross-platform ability, multi-lingual support, push notifications, payment gateway integration, and online support. Building a mobile app from scratch

In case, if you still have any query regarding how much does it cost to build app for iPhone and Android, how long does it take to make an app like Lola.com, the cost of development of mobile applications, how to make money with an app idea or iOS/Android app developers in India, how to find an app developer,  how to make an app like Lola.com or building a mobile app from scratch, then you can get in touch with us through our contact us form. One of our sales representatives will revert to you as soon as possible. The consultation is absolutely free of cost.

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